Bunge Global (NYSE:BG) Trading Down 3.3% - What's Next?

Bunge Global SA (NYSE:BG - Get Free Report)'s stock price dropped 3.3% during mid-day trading on Thursday . The company traded as low as $78.67 and last traded at $78.70. Approximately 1,221,723 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 1,683,347 shares. The stock had previously closed at $81.39.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BG shares. Citigroup upped their target price on shares of Bunge Global from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Stephens dropped their price objective on shares of Bunge Global from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.60.

Bunge Global Stock Down 3.8%

The firm has a 50-day moving average price of $79.74 and a two-hundred day moving average price of $77.05. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 3.98 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 2.04.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.13% and a return on equity of 9.98%. The company had revenue of $11.64 billion for the quarter, compared to analysts' expectations of $13.18 billion. During the same quarter last year, the company earned $3.04 earnings per share. The firm's revenue for the quarter was down 13.2% on a year-over-year basis. On average, sell-side analysts forecast that Bunge Global SA will post 7.94 earnings per share for the current year.

Bunge Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.80 annualized dividend and a yield of 3.58%. Bunge Global's dividend payout ratio is presently 35.53%.

Institutional Trading of Bunge Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in Bunge Global by 25.3% during the fourth quarter. FMR LLC now owns 3,465,636 shares of the basic materials company's stock worth $269,488,000 after buying an additional 699,889 shares during the period. Geode Capital Management LLC grew its position in shares of Bunge Global by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,457,858 shares of the basic materials company's stock worth $268,205,000 after acquiring an additional 34,890 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bunge Global by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after acquiring an additional 859,733 shares during the period. Invesco Ltd. boosted its stake in Bunge Global by 3.8% during the 1st quarter. Invesco Ltd. now owns 3,329,577 shares of the basic materials company's stock worth $254,446,000 after purchasing an additional 122,931 shares during the period. Finally, Amundi grew its position in Bunge Global by 24.9% during the 4th quarter. Amundi now owns 2,457,864 shares of the basic materials company's stock worth $190,476,000 after purchasing an additional 490,153 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.

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